Key Tax Changes for Churches Are Clearly Explained in Tax Guide
The most comprehensive and authoritative tax guide for church leaders, the annual Church & Clergy Tax Guide, was published by Christianity Today in January. Important tax updates are written in easy-to-understand language and are on topics that include the Affordable Care Act and the American Taxpayer Relief Act.
The guide helps pastors and other church staff and volunteers. Pastors will find information on how to prepare 2014 tax returns, understand tax laws, correctly report federal income taxes and social security taxes, distinguish relevant exemptions, and reduce tax liability.
Church treasurers, bookkeepers, and board members will find help with how to define “income” for the church, handle and report employee business expenses, understand the substantiation rules that apply to charitable contributions and designated contributions, and grasp federal tax reporting requirements that apply to churches and church employees.
This guide is also indispensible beyond the tax season. Throughout the year, church leaders use it to reference key topics, charts, sample forms, and real-life illustrations for various tax questions on matters that include:
• Charitable contributions
• Clergy retirement plans
• Social Security taxes
• Church reporting requirements
• Housing allowance
• Business-expense reimbursements
“Most tax guides lose most if not all of their relevance after April 15,” says Richard R. Hammar, author of the guide. “This book is different—it was designed to have direct and immediate relevance to ministers, churches, and their advisers throughout the year.”
“The Tax Guide is a phenomenal resource—I’d be lost without the wisdom in this book,” says Michael K., Chief Financial Officer of Flatirons Church.
The Church & Clergy Tax Guide is available for purchase at ChurchLawAndTaxStore.com. It is widely considered an indispensable year-round reference by thousands of church leaders for over a decade.
Christianity Today is a nonprofit, global media ministry that equips Christians to renew their minds, serve the church, and create culture to the glory of God.
(Source: Christian Newswire)
